USDCHF - Is Price Retracing Or Breaking Out?

OANDA:USDCHF   U.S. Dollar / Swiss Franc
Bearish Confluences
  • Strong longer term downwards trend
  • In the retracement phase
  • Retesting an area of significance
  • 61.8% fib retracement level touch
  • In a descending channel
  • Downwards trendline touch
  • 1K short position increase for the USD
  • 1K short position decrease for the CHF

Bullish Confluences
  • The USD is the 3rd strongest major currency whereas the CHF is the 3rd weakest major currency
  • 2K long position decrease for the CHF
  • Recent USD news has been bullish

Stay Safe - The JPI Team
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This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Price has fulfilled our entry requirements and our order has been activated. We are short looking to see price continue in this downwards trend and make a move lower.
Trade closed: stop reached:
Trade Closed
(-1R) Lost
After Trade Comments:
This was a trade that closed overnight unfortunately in a loss, however like we've said before recently we've been on a winning streak so this loss was completely expected and within our limits so there is no need for us to stress about this loss. Overall we saw USD strength step into the markets a long with the CHF weakening which caused price to make a move to the upside eventually stopping us out. This trade was completely to plan however it just didn't playout as expected, but as already mentioned this is completely normal in trading. You can't win them all unfortunately. With that being said lets move on and see if there is different opportunity for us to catch

Stay Safe - The JPI Team

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